UK-based MelodyVR raises £5 million to bring live concerts to viewers everywhere

UK-based virtual reality music startup MelodyVR has announced the completion of a £5 million round.

MelodyVR allows music fans to virtually experience their favourite artists playing in live concerts and in recording studios. Users can view concerts from "the side of the stage, to deep in the crowd," says the company's website. The startup's technology can be used from a number of VR viewers like Oculus Rift and Google Daydream View.

In December, MelodyVR signed a deal with Warner to co-create and distribute VR content featuring the company's artists, and it signed a similar partnership with Universal in March.

“Just as MTV conquered with video in the 90s and Spotify has redefined music consumption throughout the last decade, MelodyVR’s goal is to deliver the next generation of music content to fans,” said Anthony Matchett, CEO of MelodyVR, as reported by Music Business Worldwide.

The CEO said that the new capital would be used to “fuel the global expansion of our business, to reach more artists, more partners and in turn, more consumers."